The Chron’s new neighbors are very “Square”

Square, which is moving into the San Francisco Chronicle’s headquarters, unveiled its service to the world on Tuesday.

And it grabbed a lot of headlines based mainly on the man at the helm: Jack Dorsey, co-founder and chairman of Twitter.

The company develops technology to enable average people to conduct digital financial transactions, including a small credit card swiping device that connects to the audio jack of smart phones.

As TechCrunch noted, the company has already been valued at $40 million, based on its recent $10 million funding round. And that’s before launching the product.

It’s being beta tested right now — swing by Sightglass Coffee at 7th and Folsom if you want to see it in action on an iPod Touch. The product will be available to the public early next year, Dorsey said.

The company, which has finalized a lease for 3,200 square feet on the ground floor of 901 Mission St., was drawn to the medley of tenants and amenities planned for the facility, he said. Several technology incubators have also signed letters of intent for the space and Intersection for the Arts, a San Francisco nonprofit, will manage a public art gallery and public events for the building.

“The project underway, attracting not just tech companies, but art, music and basic variety, is something we wouldn’t get if we went out and found our own space,” Dorsey said.

He expects the nine-person company to fill the corner space, with 30 to 40 employees, within the next six to nine months.

The company’s customer service and operations will be based in St. Louis, Miss., while additional programmers will be located in New York.